Silver Quest Resources Ltd. Intersects 278 Metres of 2.8 Grams per Tonne Gold at Davidson Gold Project, BC by 24hgold

News Release - Tuesday, August 09, 2011
Silver Quest Intersects 278 Metres of 2.8 Grams per Tonne Gold at Davidson Gold Project, BC

Vancouver, BC - Silver Quest Resources (TSX.V: SQI) ("Silver Quest" or "the Company") is pleased to report drill results from 11 holes (BW-171 through BW-179, BW-181 and BW-182) drilled in the current 20,000 metre drill campaign to expand the resources on the Davidson Gold Project claims, a joint venture with New Gold Inc., which is the operator of the joint venture. Silver Quest has a 25% interest in the joint venture. The project is approximately 110 kilometres southwest of Vanderhoof, BC.

The best results were 278 metres that averaged 2.78 grams/tonne ("g/t") gold in hole BW-179 and 35 metres that averaged 2.37 g/t gold in hole BW-176. In addition, intercepts grading 5 g/t gold or better over widths of at least one metre occurred in several holes.

The holes reported here include in-fill and step-out holes drilled within and around the currently defined mineral resource on the Davidson Gold Project claims. Highlights include:

August 2011 - Highlights
Drill Hole	From	To	Interval	Weighted Average Gold Grade (g/t)
BW-176	42	77	35	2.37
BW-179	83	364	278	2.78

Assay information on the 11 holes reported in this press release are set forth in the following table. Widths reported are drill widths, true widths are unknown. Assays are uncut, length-weighted averages.

Drill Hole	From	To	Interval	Au g/t	Comments
BW-171	0	3	3	n/a	No sampling
	3	97	94	0.03
	97	102	5	0.38
	102	121	19	0.07
	121	143	22	0.62
	143	156	13	0.29
	156	174	18	0.61
	174	197	23	0.05
	197	221	24	0.70
	221	237	16	0.19
	237	296.57	59.57	0.06
BW-172	0	7	7	n/a	No sampling
	7	81	74	0.13
	81	87	6	0.38
	87	98	11	0.08
	98	113	15	0.27
	113	200	87	0.09
	200	207	7	0.36
	207	220	13	0.17
	220	271	51	0.39
	271	324	53	0.19
	324	395	71	0.34
	395	403	8	0.11
	403	425.2	22.2	0.54
BW-173	0	31.8	31.8	n/a	No sampling
	31.8	104	72.2	0.09
	104	177	73	0.53
	177	179	2	10.95
	179	185	6	0.52
	185	249.8	64.8	0.08
BW-174	0	3	3	n/a	No sampling
	3	78	75	0.04
	78	80	2	2.51
	80	91	11	0.06
	91	93	2	3.65
	93	108	15	0.42
	108	233.17	125.17	0.05
BW-175	0	3	3	n/a	No sampling
	3	25	22	0.11
	25	27	2	1.12
	27	298.09	271.09	0.06
BW-176	0	3.5	3.5	n/a	No sampling
	3.5	30	26.5	0.13
	30	35	5	1.56
	35	42	7	0.12
	42	77	35	2.37
	77	79	2	37.25
	79	119	40	0.74
	119	137	18	0.31
	137	138	1	4.45
	138	164	26	0.43
	164	207	43	0.27
	207	251	44	0.10
	251	261	10	0.77
	261	286	25	0.35
	286	299	13	0.72
	299	340	41	0.10
	340	361	21	0.33
	361	580	219	0.07
BW-177	0	84.12	84.12	n/a	No sampling
	84.12	186	101.88	0.03
	186	187	1	5.78
	187	491.64	304.64	0.02
BW-178	0	83.21	83.21	n/a	No sampling
	83.21	202	118.79	0.07
	202	217	15	0.54
	217	374.3	157.3	0.03
BW-179	0	34	34	n/a	No sampling
	34	83	49	0.10
	83	364	278	2.78
	83	116	33	0.99
	116	139	23	3.06
	139	177	38	8.79
	177	208	31	1.47
	208	218	10	0.45
	218	220	2	8.50
	220	268	48	1.02
	268	286	18	6.07
	286	307	21	1.20
	307	327	20	0.07
	327	328	1	3.13
	328	338	10	0.32
	338	339	1	58.00
	339	364	25	0.87
BW-181	0	4	4	n/a	No sampling
	4	26	22	0.07
	26	38	12	0.40
	38	54	16	0.20
	54	291.69	237.69	0.02
BW-182	0	1	1	n/a	No sampling
	1	43	42	0.02
	43	45	2	0.89
	45	58	13	0.04
	58	59	1	1.01
	59	286.51	227.51	0.04

Assays are pending on eight additional holes recently completed on the Davidson Gold Project claims. It is anticipated that assay results on these holes will be available prior to month end.

A total of four holes were completed in four separate areas of the Blackwater deposit for the purpose of generating representative samples for metallurgical testing. Two of the four holes (BW-MET01 and BW-MET04) were drilled on the Davidson Gold Project claims. The assays for these two holes are shown in the following table.

Drill Hole	From	To	Interval	Au g/t	Comments
BW-MET1	0	4	4	n/a	No sampling
(BW-140)	4	7	3	1.17
	7	27	20	0.14
	27	28	1	4.50
	28	34	6	0.28
	34	58	24	0.62
	58	78	20	0.35
	78	92	14	2.23
	92	138	46	0.16
	138	142	4	1.08
	142	161	19	0.26
	161	196	35	0.09
	196	197	1	29.00
	197	209	12	0.23
	209	325.53	116.53	0.10
BW-MET4	0	94	94	0.06
(BW-158)	94	107	13	0.21
	107	134	27	1.03
	134	154	20	0.31
	154	179	25	0.82
	179	180	1	6.80
	180	240	60	0.37
	240	254	14	1.74
	254	279	25	0.41
	279	308	29	0.17
	308	318	10	0.57
	318	338	20	0.13
	338	343	5	0.96
	343	389.53	46.53	0.15

David Pawliuk, P. Geo., Vice-President Exploration for Silver Quest is the Qualified Person, as defined by NI 43-101, for the Davidson Gold Project and has reviewed the technical information in this release.

SILVER QUEST RESOURCES LTD.
"Randy Turner"
Randy Turner, President

For further information please contact Investor Relations at 604-687-3959 or info@silverquest.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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